Congressional Republicans continue to consider the possibility of enacting a third budget reconciliation bill. Some members envision that a third Republican-only bill could include affordability proposals possibly offset with provisions to combat waste, fraud and abuse in federal safety net programs, and certain tax measures.

President Trump also recently weighed in, calling for such a bill to deliver higher defense funding. However, recent remarks by Senate Majority Leader John Thune (R-SD) indicate that it will be difficult to reach even a simple-majority vote in favor of a third budget reconciliation bill.

Treasury Assistant Secretary for Tax Policy Ken Kies recently expressed confidence at a Washington, DC tax conference that the Pillar Two side-by-side agreement will be implemented, saying "we feel very good about that." In terms of Pillar One, the Treasury official was quoted as saying the government's ongoing engagement on digital services taxes should not be interpreted as suggesting that the US would support reviving Pillar One or start up that negotiation where it left off.

The Treasury Assistant Secretary further was quoted as saying work is continuing on drafting corporate alternative minimum tax (CAMT) regulations to implement the five CAMT notices. The plan, he said, is for a February 2027 release.

The OECD on 15 June announced a public consultation titled Proposed targeted amendments to the Model Reporting Rules for Digital Platforms to support exchange of tax information." The public consultation runs from 15 June through 14 August.

An OECD official this week was also quoted as saying the OECD and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development will soon release a copper transfer pricing toolkit. A nickel pricing toolkit reportedly will be the subject of a public consultation later in 2026.